Bank for International Settlements
Kincaid: Intermediaries vital for consumer financial well-being
Colm Kincaid, Deputy Governor of the Central Bank of Ireland, highlighted the critical role of financial intermediaries in supporting consumer financial well-being.
Focus
Linear methods overstate fiscal stimulus in HA models
A new working paper by Javier Bianchi and Greg Kaplan finds that linear methods substantially overstate the effects of fiscal stimulus in heterogeneous-agent (HA) models.
Stablecoins cut long-run output, boost short-term growth
A new Bank for International Settlements working paper analyzes the macroeconomic impact of stablecoins, finding that widespread adoption modestly reduces long-run output but provides short-term economic benefits.
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BIS report flags debt, AI, stablecoin risks for stability
The Bank for International Settlements' Annual Economic Report 2026 identifies rising public debt, AI investment boom, and stablecoin innovation as key challenges for global financial stability and central banks.
Trust in digital money key for future financial system
The Bank for International Settlements (BIS) outlined a path to the next-generation monetary system, emphasizing innovation while safeguarding trust in money.
Global shocks demand financial governance reform
Monetary Authority of Singapore Managing Director Chia Der Jiun called for greater resilience, expanded regional cooperation, and stronger international institutions to navigate frequent global shocks.
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Geopolitics reshaping finance: Prepare for shock-prone future
Brad Jones of the Reserve Bank of Australia warned that geopolitics is profoundly reshaping the international financial system.
Nagel: New money forms may alter policy transmission
Bundesbank President Joachim Nagel discussed how central bank digital currencies, stablecoins, and tokenized deposits could impact monetary policy transmission.
Makhlouf: ECB raises rates, warns on persistent inflation
Gabriel Makhlouf, Governor of the Central Bank of Ireland, stated the ECB's Governing Council raised its main policy rate by 25 basis points to 2.25 percent.
Norges Bank holds rate at 4.25%, signals future hike
Norges Bank has kept its policy rate unchanged at 4.25 percent.
Moulin: Digital euro essential for monetary sovereignty
Banque de France Governor Emmanuel Moulin emphasized the necessity of a digital euro and wholesale CBDC to maintain monetary sovereignty in the evolving digital landscape.
Sleijpen: Inflation outlook a 'Chimera' of geopolitics, trade
Olaf Sleijpen of the BIS discussed the complex, multi-faceted nature of current inflation drivers, likening the economic environment to a mythological Chimera.